Audit Fee Trends: A 20-year review

Get comprehensive insights into audit fee trends from 2005-2024, including analysis of 6,656 SEC registrants and $21.7 billion in total audit fees. This report provides the market intelligence you need to benchmark costs, negotiate fees and understand industry dynamics. 

• Average audit fees reached a record high of $3.26 million in 2024, representing a 9% increase from the previous year 
• The Big Four firms control 69% of the audit market, with PwC leading at 21% market share and $5.5 million average fees 
• Finance industry companies pay the highest average audit fees at $4.1 million, while life sciences companies pay the most relative to revenue 
• Foreign private issuers consistently pay higher audit fees as a proportion of revenue compared to domestic filers